“China continues to be on a roll, benefiting from [Nike’s] previous hard work,” wrote Susquehanna Financial LLLP analyst Christopher Svezia.“China was very strong across all metrics. We were pleased to see that all categories were strong, with the company’s ‘category offense’ clearly paying dividends, as evidenced by the region’s 51 percent growth in direct-to-consumer and the most successful ‘Singles Day’ ever.”

Svezia and other analysts were slightly sidelined, however, by Nike’s reiterated guidance despite the unprecedented growth in futures orders.

“Nike quizzically maintained its full-year revenue guidance of mid-single-digit growth, suggesting timing differences were the cause of the below-futures revenue guidance,” Lyon wrote. “With the forthcoming Olympics and Euro Champs, we are inclined to believe conservatism is at play.”

“Nike’s guidance implies that wholesale revenues (minus FX pressures) will only grow by low-to-mid-single digits in the [second half], despite orders from retailers growing by more than 20 percent for that period,” Binetti wrote. “We understand why Nike would want to guide conservatively as it clears excess U.S. inventory (in addition to sluggish current U.S. softlines industry trends).”

Although it soared significantly in after-hours trading Tuesday, at press time, Nike’s share price was down 1.5 percent, to $129.88.